Stock Market Update
08-Sep-25 13:05 ET
Mega-Caps Lead Nasdaq Higher; Broader Market Lags
Dow +1.44
at 45402.30,
Nasdaq +103.70
at 21804.09,
S&P +12.27
at 6493.77
[BRIEFING.COM] Strong performances from the stock market's largest names propelled the Nasdaq Composite (+0.5%) to a new record high, while the S&P 500 (+0.2%) holds a more modest gain and the DJIA trades flat.
The Vanguard Mega Cap Growth ETF is up 0.8% today, with the mega-cap advantage contributing to the outperformance of the market-weighted S&P 500 (+0.2%) over the S&P 500 Equal Weighted Index (-0.3%).
Smaller cap indices face modest retreats after last week's strong showings, with the Russell 2000 down 0.1% and the S&P Mid Cap 400 down 0.4%.
Breadth figures are razor thin, reflecting a lack of conviction in the broader market outside of the mega-cap space. Decliners outpace advancers by a slim 13-to-12 margin on the NYSE, while advancers hold a slight 21-to-20 edge on the Nasdaq.
The information technology (+0.8%), consumer discretionary (+0.5%), and communication services (+0.1%) sectors advance by way of their mega-cap components, though all three sectors are now modestly beneath their session highs. Separately, the industrials sector (+0.1%) holds on to a slim gain.
The technology sector benefits from the strength of its chipmaker components, with the PHLX Semiconductor Index (+0.7%) holding a similar gain to the broader sector.
Broadcom (AVGO 346.83, +11.94, +3.57%) trades higher following its earnings report on Friday, while Oracle (ORCL 240.08, +7.28, +3.13%) advances ahead of its earnings release tomorrow.
NVIDIA (NVDA 169.97, +2.95, +1.77%) holds a nice gain after a 2.7% retreat on Friday, though losses in Apple (AAPL 237.08, -2.61, -1.09%) stifle further gains in the sector. The stock trades lower ahead of Apple's signature September event, at which it is expected to unveil the iPhone 17 and a new slimmer model of its iPhones.
Corporate headlines and other notable developments are relatively quiet today elsewhere, though Robinhood Markets (HOOD 116.03, +14.78, +14.60%) and AppLovin (APP 542.00, +51.76, +10.56%) trade sharply in response to their addition to the S&P 500 before the open on September 22.
